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Is Florida a 50/50 divorce state? No, its an equitable distribution state, which means couples split up their marital assets in a way deemed fair by the presiding court. The division may or may not be 50/50.
Homestead Exemption: Perhaps the most well-known and significant aspect of Floridas asset protection laws is the homestead exemption. It offers almost unparalleled protection for an individuals primary residence.
Personal property valued outside $1,000 is also not exempt, per Article 10, Section 4, of the Florida Constitution. Savings accounts that are not health savings accounts, prepaid medical savings accounts, hurricane savings accounts or educational savings accounts are also nonexempt, per Florida Statute, Section 222.22.
Per state law, whenever a person finds any lost or abandoned property, theyre obligated to report the description and location of the property to law enforcement. The officer taking the report will then ask whether the finder wants to make a claim for the item if they cant locate the rightful owner.
Creditor Protection Examples of assets that pass outside of probate and are protected from creditors claims include life insurance policies[2], retirement accounts[3], and college savings plans like Floridas Prepaid Education Plan and 529.
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Florida is considered one of the best states for asset protection because of its generous creditor exemption laws. Florida law protects an unlimited amount of homestead equity, tenants by entireties property, head of household wages, retirement accounts, annuities, life insurance, and disability insurance.
The assets protected under a lawsuit in Florida are: Primary residence (homestead) for property in Florida. Retirement accounts. Life insurance policies and annuities.
However, this scheme is not without its flaws. To start with, its a scam. The state of Florida collects and sells unclaimed property for the benefit of its education fund. Once a treasure has been claimed, it is possible to claim it decades later. In addition, you dont need to pay any money to claim your treasure.

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